The annual inflation rate in Croatia fell to 3.3% in May, compared to 3.7% in April. This was announced by the Croatian Bureau of Statistics (DZS) on Monday, confirming its estimates from the end of May.

The monthly increase in prices for goods and services for personal consumption, as measured by the consumer price index, was 0.1%.

After months of gradual decline, the annual inflation rate was stable at 4.1% in March, but has been falling again since then.

In May, inflation reached its lowest level since September 2021, when it also stood at 3.3%.

Looking at the main divisions of the ECOICOP classification, the highest annual increases in consumer prices were recorded in restaurants and hotels (+10.7%) and transport (+5.9%).

Prices for alcoholic beverages and tobacco products as well as for education rose by 5.4% in each department, while prices for health rose by 5.3%.

Croatian inflation in May was the highest in the Eurozone

Prices for leisure and culture rose by 3.8%, prices for communications by 3.2%, prices for food and non-alcoholic beverages by 2.8% and prices for furnishings, household goods and current household management by 2.4%.

In May, prices in restaurants and hotels rose the most compared to the previous month (+1.1%), prices for furnishings, household goods and current household management rose by 0.5%, prices for clothing and shoes rose by 0.3% and prices for food and non-alcoholic beverages rose by 0.2%.

By contrast, transport prices fell by 0.7% per month and prices for housing, water, electricity, gas and other fuels by 0.4%.

Croatia’s annual inflation rate, as measured by the harmonised consumer price index recently published by Eurostat, fell to 4.3% in May, down from 4.7% in April.

Croatian inflation in May was the highest in the Eurozone after Belgium at 4.9%. Average inflation in the eurozone rose to 2.6% in May from 2.4% in April.